World Health To Settle Class Action For $2.7M

Law360, New York (November 28, 2006, 12:00 AM EST) -- Shareholders of World Health Alternatives Inc. may receive a $2.7 million gift this holiday season if a judge approves the proposed settlement in the class action lawsuit against the bankrupt medical staffing firm.

Shareholders who purchased the company’s stock between Aug. 17, 2004 and Aug. 19, 2005 would be eligible for the settlement, which would be paid by World Health’s insurance companies.

Disgruntled investors filed several suits against the company in 2005, after World Health disclosed financial irregularities that led to the exposure of an accounting...